Valeant officials told employees today that the company plans to move its dermatological operations from Scottsdale to New Jersey because the 150,000-square-foot building is too large for the company’s needs.

“We are just now working through the transaction so I do not have any details at this time,” said Laurie Little, vice president of investor relations for Laval, Quebec-based Valeant. “We have a lease for the building and had already been in the process of looking for another location as that building was too large for the workforce.”

Little added that some employees will be asked to relocate, but she didn’t have a specific number.

It appears Valeant will be moving Bausch + Lomb’s headquarters to New Jersey as part of the $8.7 billion acquisition of that company.

In a letter to employees and filed with the U.S. Securities and Exchange Commission, Valeant said it plans to eliminate between 10 and 15 percent of its combined workforce, which means somewhere between 1,900 and 2,800 people will be losing their jobs.

Valeant now has a market capitalization of $30 billion and has the highest shareholder return of any major company on the New York Stock Exchange since 2008, the letter stated.

Its next goal: “To become the most valuable healthcare company in the world,” according to its letter filed with the SEC.

Angela Gonzales covers health, biotech and education.

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